Thursday, March 10, 2011

Newgistics Files For IPO

Austin-based Newgistics, a provider of third party logistics (3PL) services for retailers, manufacturers, distributors, and others, has filed for an IPO. The firm said it is looking to raise up to $86.25M on an IPO on the NASDAQ Global Select Market as NEWG. The firm's IPO is being underwritten by Stifel Nicholaus Weisel, Piper Jaffray, BB&T Capital Markets, and Wiliam Blair & Company. Newgistics is venture backed by Austin Ventures, which owns 63.7 percent of the company, as well as AV Labs (25.1%) and StarVest Partners (22.5%).